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India's Edible Oil Economy



  Sep 13, 2023

Edible Oil Economy of India


Oilseeds and Edible Oil Overview:

Oilseeds: Crops grown for edible oil extraction.
 
Variety: Soybeans, groundnuts, sunflower, mustard seeds, palm kernels.
 
Essential for Indian cuisine.
 

Production and Demand:

Crucial Role: India's oilseed production meets edible oil demand.
 
Influencing Factors: Weather, soil quality, agricultural practices.
 
Imports: Necessary when domestic production falls short.
 

Imports of Edible Oils:

India is a major importer.
 
Types: Palm oil, soybean oil, sunflower oil, canola oil.
 
Complement domestic production.
 

Sources of Edible Oil Imports:

Primary Suppliers: Indonesia and Malaysia (palm oil).
 
Others vary based on market conditions and trade agreements.
 

Import Demand and Trends:

Influenced by population growth, dietary changes, and industrial use.
 
Upward Trend: Increasing edible oil imports over the years.
 
Government Measures: Regulating import duties, promoting domestic oilseed cultivation.
 

Conclusion:

Essential to India's food industry.
 
Balance needed between domestic production and imports to meet dietary needs.
 

Edible Oil Production and Import Figures in India:

Oilseeds (2021-22): 38 million metric tonnes.
 
Demand: 25-26 million metric tonnes annually.
 
Imports (2022-23): 25% increase in the first nine months.
 
Estimated Total Imports (2022-23): Up to 15.5 million tonnes.
 
Major Imports: Palm oil (59%), soybean, sunflower, canola oil.
 
Import Bill (2021-22): ₹1.6 trillion.
 
Price Trends: 17% lower prices in July 2023.
 
Price Volatility: 19% rise in palm oil futures (Sept 2023).
 
Government Measures: Reduced import duties, promoted oil palm cultivation.
 
Biotech Initiatives: Approved genetically modified mustard pending Supreme Court field trials.
 
These figures illustrate the critical role of edible oil production and imports in India's food economy, with efforts to strike a balance between domestic production and imports to satisfy the country's growing edible oil demand.


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